Company Summary

Loading data...

PEER COMPANIES

MUMBAI: Highway construction firm IRB Infrastructure Developers today reported 27.95 per cent increase in net profit for the December quarter at Rs 169.60 crore due to higher income from operations.

The company had reported a net profit of Rs 132.55 crore in the corresponding quarter last fiscal.

Its income from operations for the quarter increased to Rs 1,333.32 crore from Rs 963.82 crore in October-December 2014, registering a growth of 38.33 per cent.

"The growth in sales has been mainly due to increase in toll collection to around Rs 524 crore, which is almost a rise of 10-11 per cent," the company's Chairman and Managing Director Virendra Mhaiskar told PTI here.

"Our construction business also clocked revenues of around Rs 808 crore helping, the income from operations to increase to Rs 1,333.32 crore," he added.

Its total expenses in the quarter increased to Rs 871.89 crore from Rs 587.30 crore in the year-ago period.

He said the company will continue to focus on BOT projects as it sees a steady growth in revenues.

The company currently has a portfolio of 21 toll projects out of which 14 are operational while five are under various stages of construction.

"In one project we are at the stage of achieving financial closure and the other we have signed concession agreement," he said.

IRB's construction order book now stands at around Rs 15,500 crore, which gives good revenue visibility to the company for the coming years.

IRB is one of the largest private developers in India with 20 road BOT (build, operate, transfer) projects out of which 13 are under operation.

On January 4, the company bagged its largest Rs 10,050 crore order to construct the Zojila pass tunnel in Jammu and Kashmir.